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Monday, October 21, 2013

SHELTON, CT - October 21, 2013 (Investorideas.com biometrics/ defense stocks newswire) NXT-ID Inc. (OTCQB: NXTD),
a biometrics company focused on the growing mobile commerce market,
announced today that it has submitted a patent application for its
unique digital wallet technology. As a follow up to U.S. provisional
patent application No. 61/710,826, NXT-ID has filed patent application
14/049175 for a:

METHOD FOR REPLACING TRADITIONAL PAYMENT AND IDENTITY MANAGEMENT
SYSTEMS AND COMPONENTS TO PROVIDE ADDITIONAL SECURITY AND A DEVICE
IMPLEMENTING SAID METHOD.
This patent forms the basis for NXT-ID's widely anticipated next generation payment and identity product -- the Wocket™.
"Rather than attempting to replace the wallet, as companies such as
Google and Isis (founded by AT&T Mobility, T-Mobile USA and Verizon
Wireless) are doing by putting contactless payment capability on
smartphones, our method brings the wallet into the 21st century," said
Gino Pereira, CEO of NXT-ID, Inc.
"We offer an alternative solution to those who do not wish to give
up their wallet and market studies show that represents a significant
portion of the population. We offer the modern wallet an electronic
vault that is actually part of the wallet, securely protecting private
information accessible only by the user via biometric enabled
multi-factor authentication. What is unique about this invention is that
it secures private information found within a typical wallet, such as
credit cards, debit cards, identification information, medical
information and records and makes this private information available to
owners via an interface made so simple that anyone can use it as they
would use their wallet today."
The Wocket™ requires unique biometrically enabled multi-factor
authentication to ensure only owners and their private information can
be copied into or out from the secure vault wallet device and on to the
dynamically programmable magnetic stripe NXTCard. Authenticated users
may then select payment information, via touch display or voice command
and use the NXTCard as they would any other magnetic stripe credit or
debit card.
There is an added advantage in that the NXTCard replaces multiple
cards that are currently kept in the wallet with a single secure card.
"This patent is the first of many we plan to submit regarding our
wearable identity technologies that bring full control and protection of
private data to authenticated owners of the data," said David Tunnell
CTO of NXT-ID. "In the coming months, we plan to increase our portfolio
of intellectual property with other patents that further promote
protection of private data with innovative, easy to use mobile and
wearable technologies that conform to how users naturally use devices
today."About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s (OTCQB: NXTD) innovative MobileBio™ solution
mitigates consumer risks associated with mobile computing, m-commerce
and smart OS-enabled devices. The company is focused on the growing
m-commerce market, launching its innovative MobileBio™ suite of
biometric solutions that secure consumers' mobile platforms. NXT-ID'
wholly owned subsidiary, 3D-ID LLC, is engaged in biometric
identification has 22 licensed patents in the field of 3D facial
recognition http://www.nxt-id.com/, http://3d-id.net/
Forward-Looking Statements for NXT-ID
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements reflect management's current expectations, as
of the date of this press release, and involve certain risks and
uncertainties. Forward-looking statements include statements herein with
respect to the successful execution of the Company's business strategy.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of various
factors. Such risks and uncertainties include, among other things, our
ability to establish and maintain the proprietary nature of our
technology through the patent process, as well as our ability to
possibly license from others patents and patent applications necessary
to develop products; the availability of financing; the Company's
ability to implement its long range business plan for various
applications of its technology; the Company's ability to enter into
agreements with any necessary marketing and/or distribution partners;
the impact of competition, the obtaining and maintenance of any
necessary regulatory clearances applicable to applications of the
Company's technology; and management of growth and other risks and
uncertainties that may be detailed from time to time in the Company's
reports filed with the Securities and Exchange Commission.Contact:
Corporate info: info@nxt-id.com
Investor RelationsKirin SmithProActive Capital GroupDirect: 646 863 6519Published at the Investorideas.com Newswire - Big ideas for Global Investors Disclaimer/ Disclosure:
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BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894